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2017 Benefits Guide
14
Life and Accidental Death & Dismemberment
Effective March 1, 2017, Unum will be our provider for life and accidental death and dismemberment coverage.
This year we have decided to increase this company provided benefit from $15,000 to $50,000 of
life insurance for each full time employee
. Each benefit amount also carries an equal benefit of accidental
death and dismemberment coverage. Now is a great time to ensure that Sugar Creek has the most up to date
beneficiary information on file for you. Please let Human Resources know if you need to make a change to this
information.
Unum’s group voluntary term life and AD&D insurance can provide benefits for those who depend on you, if you
die during your working years. This coverage can help your loved ones deal with expenses such as: a mortgage,
ongoing living expenses, or funeral arrangements (Average Cost in Midwest is between $8,000 & $12,000)
Unum is offering a one time open enrollment opportunity to purchase additional voluntary life insur-
ance. This means you can purchase up to the guarantee issue amount of $130,000 with no evidence
of insurability and without answering any medical questions.
If you do not take advantage of this oppor-
tunity now, you will have to go through medical underwriting and be approved by Unum for any amount at next
year’s annual enrollment. You may purchase voluntary life in $10,000 increments to a maximum benefit amount of
5x your annual earnings or $500,000, whichever is less. You can purchase life amounts in $5,000 increments (not
to exceed your elected amount) on your spouse with a guaranteed benefit of $25,000. For your children ages 6
months to 19 years (26 years if full time student) you may choose to purchase this benefit in increments of $2,000
with a maximum of $10,000.
The cost is based on your age and whether you use tobacco products. Use the table below to determine the cost
of additional life insurance according to your age, amount and whether you are a smoker or non smoker. Keep in
mind your benefit reduces by 35% at age 65 and 50% at age 70.
Voluntary Life and AD&D
Child(ren) Voluntary Term Life Benefit $.40/$2,000 (includes all children)
AD&D:
Employee
$.310/$10,000,
Spouse
$.150/$5,000,
Child
$.082/$2,000
Employee Monthly Rate/$10,000
Non-Tobacco User
Tobacco User
$1.280
$1.280
$2.080
$3.370
$5.190
$8.460
$13.290
$18.450
$34.060
$54.210
$0.690
$0.770
$1.150
$1.860
$2.870
$4.670
$7.340
$10.190
$18.800
$31.540
Under 29
30-34
35-39
40-44
45-49
50-54
55-59
60-64
65-69
70-74
$.350
$.390
$.580
$.930
$1.440
$2.340
$3.670
$5.100
$9.400
$15.77
*Spouse Monthly
Rate/$5,000
*The spouse rate is based off the employee’s age